According to a recent report by the online database platform Messari, the Hedera (HBAR) Network, an open-source, public blockchain governed by the Hedera Governing Council, has showcased significant growth in the face of a challenging crypto market during Q3 2023. Hedera Network Hits New Record With 99 Million Daily Transactions Per the report, Hedera Network’s transaction volume continued its upward trajectory, achieving a new record of 99 million daily average transactions in Q3 2023. This milestone marks the fifth consecutive quarterly increase in transaction activity, with the Hedera Consensus Service responsible for 99% of all transactions on the network. Related Reading: Bitcoin Maximalist Calls Ethereum ‘Garbage’, Here’s Why Notably, the network’s revenue derived from transaction fees surpassed $1 million for the first time, experiencing a remarkable 30% quarter-on-quarter growth. According to Messari, the Hedera Consensus Service largely drove the revenue growth and remained independent of HBAR’s price fluctuations, as transaction fees are fixed in USD terms. While the overall crypto market experienced a moderate downturn during Q3 2023, HBAR’s circulating market capitalization grew by 7.6% quarter-on-quarter, reaching $1.7 billion by the end of Septemb ..
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 Q3 Triumph: Transaction Volume Soars, Network Revenue Crosses 1M Milestone){kind=link}